Were you aware that employee theft costs companies approximately $50 billion annually? When companies hire and pay workers, it’s sad to think they encounter dishonesty of epic proportions.

Unfortunately, plenty of statistics suggest that sometimes an employer’s most formidable threats are internal rather than external. About one in five small business owners say workers have stolen from them. And the average embezzlement situation results in $357,650 in losses. These losses can add up and make it difficult for some businesses to stay afloat and remain in business.

Embezzlement refers to the misappropriation of funds belonging to someone else. It happens when employees wrongfully defraud their employers by stealing money or other things.…